He added that among 100 items randomly selected in an Hhgregg store, 74% are sold on Amazon.com with average per-item savings at Amazon.com turning out to be more than $80, or more than a 12% savings relative to the comparable in-store price, he said.

“The price-comparison risk for Hhgregg is a particularly high concern because of the high average ticket, and 84% of the overlapping items are available at lower prices,” the analyst said. He said while the company’s aggressive approach in matching Amazon’s prices upon consumer request could slow the dollar share loss, it could also hurt its profit margins over time as price-check apps and mobile e-commerce become more prevalent, the analyst noted.

T.J. Maxx’s smaller rival Ross Stores Inc.
ROST, +0.98%
was down slightly. Both companies are so-called off-price retailers. They both either raised its second-quarter profit forecast or projected earnings at the high-end of its previous forecast range last week after reporting better-than-expected June same-store sales. Read retailers’ June sales report.

Collective Brands Inc.
PSS
, parent of Payless shoe stores, was down 1.3%. Caris & Co. raised its rating on the stock to average from below average after meeting with the company’s interim Chief Executive Michael Massey.

“While we don’t think (the retailer) is out of the woods yet, we were encouraged by what we heard from Mr. Massey as well as by our own observations of better traffic in Payless stores recently,” said analyst Dorothy Lakner, adding the company’s customers still face macroeconomic pressures and higher product costs in the second half than in the first half.

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